News Snapshot:
In 2021, more than 80 companies cancelled plans to list on Shanghai’s tech-focused STAR market, double the number in 2020 A growing number of startups in China are cancelling plans to launch initial public offerings (IPO) in the wake of stiffer competition from bigger rivals and after Beijing put in place tighter regulatory norms with the aim of safeguarding investor interest, Nikkei Asia reported. In 2021, more than 80 companies cancelled plans to list on Shanghai’s tech-focused STAR market, double the number in 2020, with the latest being farm drone maker XAG that withdrew IPO plans last month, the report...
